St George Mining has signed a non-binding Memorandum of Understanding with SVOLT Energy Technology to consider collaboration on the development of the Mt Alexander Lithium Project as well as the acquisition of other lithium projects and lithium business opportunities. MoU establishes a framework for St George and SVOLT to negotiate and consider potentially entering into a range of commercial transactions for investment and offtake opportunities relating to lithium projects in Australia including: SVOLT to invest up to $5 million in St George by way of a placement of shares of St George to SVOLT, subject to agreement on pricing and completion of due diligence by SVOLT Offtake arrangements whereby SVOLT may secure up to 25% of potential spodumene concentrate from the Mt Alexander Lithium Project The provision of funding support to St George for the development of lithium projects Potential joint venture by St George and SVOLT to acquire and develop new lithium projects SVOLT is one of the world's largest manufacturers of batteries for electric vehicles and energy storage, with operations in domestic China and abroad that supply batteries to more than 30 automobile makers and other customers. SVOLT has industry leading credentials in battery innovation, and pioneered the first mass produced cobalt-free battery
St George Mining has signed a non-binding Memorandum of Understanding with SVOLT Energy Technology to consider collaboration on the development of the Mt Alexander Lithium Project as well as the acquisition of other lithium projects and lithium business opportunities. MoU establishes a framework for St George and SVOLT to negotiate and consider potentially entering into a range of commercial transactions for investment and offtake opportunities relating to lithium projects in Australia including: SVOLT to invest up to $5 million in St George by way of a placement of shares of St George to SVOLT, subject to agreement on pricing and completion of due diligence by SVOLT Offtake arrangements whereby SVOLT may secure up to 25% of potential spodumene concentrate from the Mt Alexander Lithium Project The provision of funding support to St George for the development of lithium projects Potential joint venture by St George and SVOLT to acquire and develop new lithium projects SVOLT is one of the world's largest manufacturers of batteries for electric vehicles and energy storage, with operations in domestic China and abroad that supply batteries to more than 30 automobile makers and other customers. SVOLT has industry leading credentials in battery innovation, and pioneered the first mass produced cobalt-free battery
